A certain whale/institution sold 10,414 ETH last night, and the obtained stablecoins were used to repay loans and reduce their leveraged positions.

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ODAILY
06-25
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According to the monitoring of on-chain analyst Ember, a whale/institution sold 10,414 ETH last night: he transferred 10,414 ETH to Binance through 3 addresses, and then withdrew $36.32 million in stablecoins from Binance. This whale/institution sold Odaily this time to reduce leverage: his three addresses pledged 68,300 ETH (US$228 million) in Aave and Compound to borrow $141 million in stablecoins. The stablecoins obtained from the sale of ETH were used to repay and reduce the borrowing position.

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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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